Financial Reports The Agency shall furnish the Commission, not later than 15 days after the close of each reporting period, monthly or other periodic cost or financial reports in such form and detail as may be required by the Commission. Any costs incurred for capital equipment or other assets shall be supported by a list showing the description, make, any serial number, and the cost of each item acquired. VI. Accounting Records The Agency shall accumulate and account for obligations and costs incurred in connection with the work being performed under this agreement in such form and detail as may be required by the Commission. Vil. Termination The Commission may terminate this agreement upon 30 days written notice of such termination addressed to the Agency. In the event of such termination, the Agency shall be reimbursed, to the extent permitted, for obligations actually incurred to the effective date of termination, and for commitments extending beyond the effective date of termination to a date not later than the date upon which the agreement would have expired if not terminated under this paragraph, which the Agency, in the exercise of due diligence, is unable to cancel. Payments under this agreement, including payments under this article, shall not exceed the ceiling amount elsewhere specified in this agreement. VIII. Capital Equipment A. "Capital Equipment" means each item of equipment which is expected to have an extended period of service, generally a year or more, and has sufficient monetary value, generally o1 $300 or more, to justify continuing accounting records for the item. B. Unless expressly authorized by the Commission in advance, the Agency shall not be reimbursed or use funds made available under this agreement for the procurement or fabricat: n of capital C. If capital equipment is purchased or otherwise acquired pursuant to an authorization under paragraph B. above, ¢..cept as may be otherwise agreed by the Commission and the Agency: 1. The title thereto shall vest in the Commission; 2. the Agency shall be responsible for the ma safeguarding thereof; and :enance and Appendix "IA" 500840! OCT 3 1 1974 eee: equipment.